ADNOC, a trustworthy and ethical supplier of energy with a lower carbon footprint, has announced the creation of ADNOC Gas, its new global-scale gas processing, operations, and marketing organization, which will go into operation on January 1, 2023.
The flagship firm unites the ADNOC Gas Processing and ADNOC LNG enterprises’ operations, maintenance, and marketing into a single, globally recognized, market-dominating consolidated business.
As ADNOC expands its gas production and processing capacity, both the scale and capabilities of ADNOC Gas will maximize value and create new opportunities for ADNOC, its partners and the UAE. ADNOC Gas, a major worldwide operator with a capacity of 10 billion standard cubic feet of gas per day (scfd), will provide gas products to a wider spectrum of domestic and foreign clients.
Natural gas is and will play a vital role in a responsible energy transition. Demand for natural gas, as a lower-carbon fuel, is forecast to increase heavily over the coming decades with global gas demand driven by industrial and manufacturing growth and the replacement of more carbon intensive fuels, such as coal, in international markets.
Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, said: “The formation of ADNOC Gas represents another major milestone in unlocking the full value of the UAE’s vast natural gas resources and builds on ADNOC’s more than 40 years’ experience as a leading gas producer. Natural gas will be a critical fuel in the energy transition and ADNOC Gas, through its world-scale operations and significant growth and expansion plans, will be well-positioned to meet both local and international gas demand. In addition to enabling the growth of local industry and manufacturing, ADNOC Gas will play a critical role in delivering ADNOC’s broader LNG expansion plans, including in international markets.”
For ADNOC Gas, Ahmed Mohamed Alebri has been appointed as Chief Executive Officer (Acting) of ADNOC Gas, Mr. Peter Van Driel as Chief Financial Officer, and Mr. Mohamed Al Hashemi as Chief Operating Officer.
Significant financial and operational opportunities are anticipated to be unlocked by the combined ADNOC Gas business. The new business will be more flexible, better equipped to adapt to shifting consumer expectations, and well-placed to seize strategic chances for long-term expansion. This includes completing crucial capital growth projects that will improve the company’s ability to process gas and support its anticipated expansion into LNG.
ADNOC Gas, as one the world’s leading gas companies, will operate eight processing sites both onshore and offshore with a pipeline network of over 3,250 km.
As declared in last November, ADNOC plans to launch an initial public offering (IPO) of a minority stake in ADNOC Gas on the Abu Dhabi Securities Exchange (ADX) during the course of 2023.
The current Joint Venture (JV) partners for ADNOC Gas Processing (Shell, TotalEnergies, and PTTEP) and ADNOC LNG (Mitsui & Co, bp, and TotalEnergies) will continue to work together with ADNOC Gas.